empty
 
 
22.02.2016 06:34 AM
Elliott wave analysis of EUR/NZD for February 22 - 2016

This image is no longer relevant

Wave summary:

The very complex correction since the 1.7273 high is still unfolding and the recent failures to break out towards the upside does indicate that a flat correction is unfolding in wave [ii]. This calls for a little more downside pressure to 1.6475 before the next impulsive rally higher towards 1.7273 on the way higher to 1.8020.

Resistance is now found at 1.6794 and again at 1.6893. The later should protect the upside for the decline closer to 1.6475.

Trading recommendation:

We will buy EUR near 1.6475 or upon a break above 1.6893.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback